The Ethereum mainnet briefly stopped finalizing transactions but recovered after 25 minutes.
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Big breath as Beacon Chain stops finalizing... and then recovers
The Ethereum mainnet briefly stopped finalizing transactions but recovered after 25 minutes.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38 billion tax from Alameda
According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single claim, the IRS assessed $20.4 billion in unpaid partnership and payroll taxes against Alameda Research LLC.
Founded in Sept. 2017 by Sam Bankman-Fried and Tara Mac Aulay, with Caroline Ellison serving as CEO, Alameda was headquartered in Hong Kong and conducted up to $5 billion worth of trades per day at its peak. Hong Kong does not levy taxes on capital gains. However, being U.S. nationals, its founders and key executives are obligated to pay taxes on their worldwide income irrespective of where they reside and how many days they actually spend in the U.S. each year, as per the highly unusual U.S. taxation by citizenship regimen.
The partnership taxes assessed by the IRS suggests it believes the entity operated on a partnership regime, where, unlike corporations, profits are not taxed at the entity level but are instead “passed through” to its partners and subsequently taxed at the individual level.
If the IRS prevails, it could mean bad news for the creditors. According to the filing, the IRS is claiming the total unpaid taxes of $44 billion from FTX and related companies under Admin Priority. The IRS claims would take precedence over that of unsecured creditors, such as FTX’s one million users, during bankruptcy proceedings. Despite their best efforts, bankruptcy trustees and law firms have only managed to locate $7.3 billion in assets from FTX and related entities.
A purported $20.4 billion IRS claim against Alameda Research circulating this week. (Twitter)Milady NFTs and token frenzy
On May 8, seeing the traction surrounding meme tokens, a group of self-organized developers created the Milady (LADYS) token on Ethereum (ETH), basing their design on the popular anime nonfungible tokens (NFT) collection of the same name. The token has no association with Milady Mixer nor Charlotte Fang, the creators of the Milady collection.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38 billion tax from Alameda
According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single claim, the IRS assessed $20.4 billion in unpaid partnership and payroll taxes against Alameda Research LLC.
Founded in Sept. 2017 by Sam Bankman-Fried and Tara Mac Aulay, with Caroline Ellison serving as CEO, Alameda was headquartered in Hong Kong and conducted up to $5 billion worth of trades per day at its peak. Hong Kong does not levy taxes on capital gains. However, being U.S. nationals, its founders and key executives are obligated to pay taxes on their worldwide income irrespective of where they reside and how many days they actually spend in the U.S. each year, as per the highly unusual U.S. taxation by citizenship regimen.
The partnership taxes assessed by the IRS suggests it believes the entity operated on a partnership regime, where, unlike corporations, profits are not taxed at the entity level but are instead “passed through” to its partners and subsequently taxed at the individual level.
If the IRS prevails, it could mean bad news for the creditors. According to the filing, the IRS is claiming the total unpaid taxes of $44 billion from FTX and related companies under Admin Priority. The IRS claims would take precedence over that of unsecured creditors, such as FTX’s one million users, during bankruptcy proceedings. Despite their best efforts, bankruptcy trustees and law firms have only managed to locate $7.3 billion in assets from FTX and related entities.
A purported $20.4 billion IRS claim against Alameda Research circulating this week. (Twitter)Milady NFTs and token frenzy
On May 8, seeing the traction surrounding meme tokens, a group of self-organized developers created the Milady (LADYS) token on Ethereum (ETH), basing their design on the popular anime nonfungible tokens (NFT) collection of the same name. The token has no association with Milady Mixer nor Charlotte Fang, the creators of the Milady collection.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38 billion tax from Alameda
According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single claim, the IRS assessed $20.4 billion in unpaid partnership and payroll taxes against Alameda Research LLC.
Founded in Sept. 2017 by Sam Bankman-Fried and Tara Mac Aulay, with Caroline Ellison serving as CEO, Alameda was headquartered in Hong Kong and conducted up to $5 billion worth of trades per day at its peak. Hong Kong does not levy taxes on capital gains. However, being U.S. nationals, its founders and key executives are obligated to pay taxes on their worldwide income irrespective of where they reside and how many days they actually spend in the U.S. each year, as per the highly unusual U.S. taxation by citizenship regimen.
The partnership taxes assessed by the IRS suggests it believes the entity operated on a partnership regime, where, unlike corporations, profits are not taxed at the entity level but are instead “passed through” to its partners and subsequently taxed at the individual level.
If the IRS prevails, it could mean bad news for the creditors. According to the filing, the IRS is claiming the total unpaid taxes of $44 billion from FTX and related companies under Admin Priority. The IRS claims would take precedence over that of unsecured creditors, such as FTX’s one million users, during bankruptcy proceedings. Despite their best efforts, bankruptcy trustees and law firms have only managed to locate $7.3 billion in assets from FTX and related entities.
A purported $20.4 billion IRS claim against Alameda Research circulating this week. (Twitter)Milady NFTs and token frenzy
On May 8, seeing the traction surrounding meme tokens, a group of self-organized developers created the Milady (LADYS) token on Ethereum (ETH), basing their design on the popular anime nonfungible tokens (NFT) collection of the same name. The token has no association with Milady Mixer nor Charlotte Fang, the creators of the Milady collection.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.
Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express
IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.
US House financial committee tells SEC they don’t like custody proposal
The letter criticizes the proposed rule for its impact on the banking industry, particularly in ways that would be disadvantageous to the digital asset industry.
Federal Reserve's FedNow will integrate with Metal Blockchain
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols.
Federal Reserve's FedNow will integrate with Metal Blockchain
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols.
BlockGPT launches ‘chat to earn’ ecosystem for training AI
A new Web3 initiative aims to build a ChatGPT-style artificial intelligence system on the blockchain.
Safaricom M-Pesa receives Ethiopian mobile money license, ending state monopoly
The Kenya-based company already has 3 million mobile phone users in Ethiopia and plans to make it the 10th country where the payment service will be available.
'The SEC’s actions have crippled a nascent industry' — Paradigm requests amicus brief for Coinbase
According to Paradigm, the SEC's lack of a clear path for crypto firms to register could lead to a “de facto ban on digital asset trading platforms.”
MetaMask rolls out ETH purchases via PayPal to US users
Users in the United States can also transfer ETH from PayPal to MetaMask. The companies first announced their collaboration in 2022.
Watchdog sues SEC over FOIA access to docs on potential crypto conflict of interest
EMPOWR is requesting correspondence concerning former SEC officials William Hinman, Marc Berger, Jay Clayton and their current employers.
Researchers in Singapore design new ‘more efficient’ DAO scheme
Scientists at Singapore University of Social Sciences created a novel DAO voting/governance scheme after reviewing current methods.
GAO cites exposure to digital assets in exploring collapse of Signature Bank
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure.
How to use a crypto hardware wallet
To use a crypto hardware wallet, connect wallet to computer/mobile, enter PIN, follow instructions to send/receive crypto, then store safely offline for added security.